Stocks in Asia retreated along with U.S. and European futures, indicating the risk-off move that’s hit markets at the start of this month may have further to run. The dollar climbed.
S&P 500 futures declined as much as 1.8% at one point after global stocks posted a more than 2% slide on Friday. Shares in Hong Kong saw the bulk of losses, with those in Seoul and Singapore also dropping. The Sydney market edged up after tumbling the previous session. China’s yuan maintained Friday’s slide amid concern tensions with the U.S. are increasing.
The Australian dollar slipped along with the pound and euro, while Australian bonds nudged higher. Trading volumes may be light due to holidays in China and Japan, and Treasuries won’t trade until the London open. Treasury futures climbed and oil began the week on the back foot.
Nikkei -2.84% Hang Seng -3.81% CSI Closed Shanghai Closed Shenzen Closed
Eur$ 1.0935 CNH 7.1376 CNY 7.0633 JPY 106.73 GBP 1.2446 CHF 0.9643 RUB 75.0033 TRY 7.0176
S&P -0.91% Nasdaq -0.9% EuroStoxx -3.39% (Closed Friday) FTSE -0.73% Dax -3.56%
Macro :
- Trump Says Tariffs Would Be ‘Ultimate Punishment’ on China
- Bad Start to May Is a Sign of Things to Come for Markets (2)
- More ECB Bond Buys Are Matter of Time as Debt Balloons (Correct)
- Einhorn’s Greenlight Hedge Funds Deepen Slump With April Decline
- USO Positions in Oil Futures Contracts to Roll Over 10 Days
- Senate Bill Would Require Consumer Consent for COVID Tracking
- Bill Gates Says Virus Vaccine Could Take as Little as 9 Months
- Junk-Bond ETFs Add Most Since 2015 on Fed’s Fallen-Angel Pledge
- SUVs Get Parked in the Ocean and Reveal Scope of U.S. Car Glut --> Auto Sector should continue to UnderPerf.
Keep an eye on :
- ADP FP : Paris Orly Airport to Remain Closed Until Fall: Les Echos
- AIR FP : Airbus Shuns Bailout While Plumping for State Aid to Airlines
- ALV GY : Allianz Withdraws Targets Amid Pandemic as Net Income Slumps 30%
- AAPL US : Apple’s $1.5 Billion Headwind Adds FX to Litany of Company Woes
- ARYN SW : Aryzta’s Lenders Approve Covenant Amendments Amid Virus Risk
- BIM FP : BioMerieux Wins Emergency FDA Authorization for Covid-19 Test
- BPOST BB : Bpost Misses Out on Belgian Mask Distribution Contract: De Tijd
- BAR BB : Barco AGM Approves EU2.65 Per Share Gross Dividend, Stock Split
- CSGN SW : Credit Suisse Shuts Down Computer-Run QT Fund: Business Insider
- DAI GY : Daimler Restarts 5 German Plants After Production Suspension
- DBK GY : Deutsche Bank Investors Urged by Glass Lewis to Rebuke Chairman
- DLG GY : Dialog Semiconductor Withdraws Outlook for Full-Year 2020
- ERICB SS : Ericsson Is Said to Seek Bids for $2 Billion Sale of Iconectiv
- EUCAR FP : Europcar Mobility Gets EU220m Loan Backed by French Govt (May 3)
- FCT IM : Navy to Pick Fincantieri in Potential $5.5 Billion Frigate Deal
- FINGB SS : Fingerprint Cards 1Q Revenue SEK310.0 Mln, -9.6% Y/y
- FNTN GY : Freenet First Quarter Ebitda EU109.2 Mln
- GAM SW : GAM Holding Reports Program to Buy Back Shares Over 3-Yr Period
- GRG LN : Greggs Postpones Planned Store Reopenings Next Week: Reuters
- HSX LN : FCA to Seek Legal Clarity on Business Interruption Insurance
- IAG LN : IAG Says Iberia, Vueling Sign Syndicated Financing Agreements
- IMA IM : IMA to Supply 25 Surgical-Mask Packaging Machines to Italy
- INTU LN : Intu Properties Received 40% of Rents, Agreed Facility Waiver
- KER FP : Prada April China Sales Rose Over 10%, Bertelli Tells Repubblica
- KCO GY : Kloeckner First Quarter Ebitda EU21 Mln
- LONN SW : Moderna, Lonza Pact to Manufacture Moderna’s Virus Vaccine
- LOOK LN : U.K. Car Dealer Lookers Rejects Merger Talks With Pendragon: Sky
- LHA GY : *LUFTHANSA SAYS LIQUIDITY CURRENTLY STANDS AT MORE THAN EU4B
- LHA GY : Too Much Debt Would Paralyze Lufthansa for Years, CEO Says
- LHA GY : Lufthansa’s Swiss Must Cut Nearly 20% of Costs: SonntagsZeitung
- LHA GY : Lufthansa Expects to Reach Deal on German Government Aid ‘Soon’
- MC FP : Prada April China Sales Rose Over 10%, Bertelli Tells Repubblica
- MAR PL : Martifer Unit Plans to Halt Metal Structures Plant During May
- MCP PL : Impresa Says SIC Was Most Viewed Portuguese TV Channel in April
- KN FP : Natixis Investors Told to Vote Down CEO Pay by Glass Lewis, ISS
- NAS NO : Norwegian Air Nearer to Rescue Deal as Bondholders Support Plan
- NAS NO : Norwegian Air Got Lessors Support for Equity Conversion of $730m
- NOVN SW : Novartis Gets Positive CHMP Opinion for Enerzair Breezhaler
- NOVN SW : Novartis Granted FDA Orphan Drug Status for Cipargamin
- PSH NA : Pershing Square Holdings Apr. Net Performance +13.6%
- PNL NA : PostNL First Quarter Loss EU12 Mln Vs. Profit EU6 Mln Y/y
- 1913 HK : Prada April China Sales Rose Over 10%, Bertelli Tells Repubblica --> -2.39% in HK
- RBS LN : RBS First Quarter Impairments GBP802 Mln Vs. GBP86 Mln Y/y
- RCO FP : Remy Cointreau Closes Purchase of Maison de Cognac J.R. Brillet
- RNO FP : SUVs Get Parked in the Sea and Reveal Scope of Auto Glut
- ROG SW : Roche’s Covid-19 Antibody Test Gets FDA Emergency-Use Approval
- RR/ LN : Rolls-Royce Prepares to Cut As Many as 8,000 Jobs: FT
- RYA LN ; Ryanair Job Cuts, Iberia Loan: EMEA Industrials Wrap
- SAF FP : Safran Mulls Buying Small Suppliers, CEO Tells Le Figaro
- SPM IM : Saipem Gets Order Worth About EU280m for Baltic Pipeline Project
- SAN FP : Sanofi's Cablivi Gets Use Extension Recommendation in Europe
- SRP LN : Serco in Talks for U.K. Covid-19 Tracing Contract: Times
- GLE FP : SocGen to Provision 3.5B-5B Euros This Year, Reuters Says
- STM GY : Stabilus Second Quarter Adjusted Ebit EU31.1 Mln, -13% Y/y
- TKWY NA : Just Eat Board to Be Simplified, Non-Exec Members to Step Down
- TKTT FP : Tarkett Says Cyber-Attack Has Hit Some Operations Since April 29
- TEF SM : Telefonica to Cut Earnings Forecast: El Confidencial
- TEF SM : Liberty, Telefonica Brave Pandemic to Build $30 Billion U.K. Arm
- TEF SM ; Telefonica's Debt Pressures May Limit O2 UK Proceeds: React
- TIT IM : Elliott Cut Telecom Italia Stake, Voting Rights: Consob
- TSLA US : Tesla PT Raised to $680 from $440 at Morgan Stanley
- TKA GY : Cinven, Advent Seek Help in EU17B Deal for Thyssenkrupp: FT
- FP FP : Total Seeking to Sell Electricity in Australia: Regulator
- TUI LN : TUI Cancels Trips Through June 14, Expects Later Start of Season
- TUI LN : TUI Restarts Offering Trips and Flights Within China
- UCB BB ; UCB AGM Approves EU1.24 Per Share Gross Dividend
- VOW GY : Volkswagen Mexico Hopes to Restart Activities by May 18
- VOW GY : Volkswagen Says Lamborghini Prepares to Restart Production May 4
- WDI GY : Wirecard’s AllScore Fined $16 Million by PBOC Over Violations